Canned food manufacturer Century Pacific Food, Inc. (CNPF) said Monday its diverse and resilient portfolio will enable it to sustain double-digit growth this year despite threats of higher tariffs and ongoing global uncertainties.
“We’re already seeing signs of a better consumer environment as we enter 2025. So far, our Q1 has gone as planned,” said CNPF chief financial Officer Chad Manapat.
“While that gives us reason to be optimistic, we remain mindful of lingering uncertainties on the cost side and ongoing shifts in the global trading environment. We plan to tread 2025 with caution—remaining agile and responsive to change. We believe our diverse and resilient portfolio equips us well to navigate these crosswinds and continue delivering on our aspiration of double-digit growth—while staying true to our purpose of delivering affordable nutrition to the market,” he said.
Food exporters CNPF and Del Monte Philippines may be affected by the 17-percent reciprocal tariff imposed by US against the Philippines.
CNPF also reported that its net profit grew 14 percent year-on-year to P6.3 billion in 2024.
Consolidated revenues reached P75.5 billion, up 12 percent from a year ago on higher sales from Original Equipment Manufacturing (OEM) exports and branded segment.
OEM exports, which comprised of both tuna and coconut export businesses – surged 36 percent year-on-year The commodity-linked segment benefited from a low base, favorable input costs, and robust global demand for healthy and nutritious products.
Branded segment revenues went up by 7 percent from a year ago level on higher volume. This segment, composed of marine, meat and milk products, accounted for the majority of the company’s sales.
“Our results in 2024 highlight the resilience and balance of our synergistic portfolio. Diversification allowed us to navigate economic headwinds more effectively, with exports benefiting from a favorable commodity cycle and global demand—providing uplift amid a subdued domestic environment,” Manapat said.
CNPF acquired Coco Harvest Inc. last year, a coconut processing facility which started operating in November 2024.
